BRIEF-Melior raises going concern doubts

Mon Jul 18, 2016 8:45am EDT
 
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July 18 (Reuters) - Melior Resources Inc:

* Melior announces loan facility extension and provides corporate update

* Reached agreement with Pala Investments Ltd to extend expiry, repayment date of $5 million loan facility from August 28,2016 to October 31, 2017

* Continues to review options to secure alternative sources of financing so as to ensure it has sufficient capital to meet obligations

* Estimated that remaining drawdown amount to be provided through Pala facility will fund company through to end of October 2016

* Material uncertainties cast significant doubt upon company's ability to continue as a going concern Source text for Eikon: Further company coverage: